the financial services boom in India is built on the MIS-SELLING by banks, mutual funds, and of course life insurance companies, brokerage houses, housing loan companies….and their market capitalization is so high that it is scary.

Mutual funds take the money of a 70 year old man and put it in an equity oriented ‘balanced fund’ promising him or her about 9% return per month PAYABLE on a monthly basis. Most mutual funds do it, and those who do not do it are cursing themselves that they were not smart enough…

Here is a story of what large scale pillage is happening. Do not be mistaken..ALL OF THEM ARE DOING IT. All mutual funds, life insurance companies, banks, are all doing it. So just delete the name Icici Prudential..and put Hdfc, Sbi, Max….does not matter. The story remains the same…

Icici prudential life is doing very well in the markets and is being accumulated by many institutional investors….Lol…

Well I would hate putting a Wire.in story on my blog…but the MSM has not carried this story…so here it is…

https://thewire.in/208356/icici-bank-fraud-fixed-deposit-insurance-policy-rajasthan/ 

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  1. These days if you need anything from the bank (Locker, Loan, Fee enquiry, Statement or even cheque encashment), you would be fleeced with something or other.

    Banking spaces have become customer’s strip chambers.

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